iZettle, the Swedish payments startup that has been called the ‘Square of Europe’ for its mobile-based point of sale services, is taking its business development strategy up another notch today: the company — which currently processes about $2.3 billion in transactions each year — is launching a new card reader that it will offer to merchants free of charge. The Lite reader, as it is called, will sit alongside iZettle’s existing piece of hardware that retails for around $75, depending on the market.

The Lite is designed with a very notable difference in mind. Unlike the paid product, the new reader cut a very notable corner to keep its cost down: the device is no longer wireless, plugging into an iPhone, iPad or Android device by way of the audio socket — essentially standing in for the free dongles that iZettle used to give out to merchants when it first opened…

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